Six years after Stripe, Paystack becomes a bank

Six years after Stripe acquired it for $200 million, Nigeria's Paystack has become a group with a microfinance bank, the consumer app Zap and holding company The Stack Group. It bought Ladder Microfinance Bank in January 2026 and is moving Brass and Allawee customers into Paystack MFB to earn interest on deposits rather than relying on its 1.5% + ₦100 per-transaction fee.

• Stripe bought Paystack for $200 million in 2020 when it had 60,000 customers
• In January 2026 Paystack acquired Ladder Microfinance Bank and formed The Stack Group
• Paystack charges 1.5% plus ₦100 per transaction, capped at ₦2,000
• Nigeria's central bank fined Paystack ₦250 million over Zap in April 2025